Watchdog report lists ESG shareholder push for corporate action on liberal priorities.

Activist Groups Leverage Shareholder Power to Target⁢ Conservative Groups

Despite the growing debate surrounding environmental, social, and governance (ESG) standards, activist groups are using their shareholder power to undermine conservative organizations. The American Accountability Foundation, a conservative watchdog, has⁢ compiled a memo⁣ titled “Naming and Shaming,” exclusively⁤ obtained by the Washington Examiner, which sheds light on⁢ how these groups are pressuring companies⁣ to ⁢distance themselves from conservative associations.

The Power of ESG

“ESG’s goal is to force​ companies to disclose their support for⁢ trade associations, think tanks, non-profits, political committees, and candidates. This information is then used by the woke ‌mob to shame companies for their ‌affiliations. Ultimately, the aim is to​ reduce membership and contributions to any organization or individual that does not align with liberal orthodoxy,” the report states.

The ‌memo highlights three key ⁣groups – the Corporate Reform Coalition, the Proxy Preview triad, and⁢ the Center for Political Accountability​ – that​ are actively​ working to suppress conservative voices within corporate America. It also reveals connections between these groups ​and left-wing activists, including financial support from liberal billionaire George Soros.

The shareholder‌ resolutions put forward by these ‍groups specifically target organizations ‌such as the Federalist Society, the‍ Independent ⁣Women’s Forum, the U.S. Chamber of Commerce, and various Republican‌ groups like the NRSC. These resolutions claim that aligning with these conservative groups contradicts the ESG initiatives pursued by the companies.

Jerome Trankle, the Director of Research at the American Accountability Foundation, emphasizes the threat that governance standards pose ‍to companies, subjecting their political spending to the scrutiny of the “woke mob.”

A Threat to Free Speech and Freedom of Association

“While ESG’s impact on the energy industry and ⁤America’s energy independence⁢ is widely known,⁤ little attention‌ has been given to the threat it poses to trade associations and advocacy groups. The ESG movement, which is ‍closely aligned​ with the organized Left, has co-opted the shareholder resolution process ⁢to expose the political spending of public ​companies to the judgment⁢ of the⁣ woke mob,” Trankle explains.

Trankle further asserts that this approach is an attack on free speech and freedom of association,⁢ deliberately aimed at cutting off companies from supporting pro-business and conservative organizations.

ESG policies have faced increasing⁣ scrutiny in recent years, with BlackRock CEO Larry Fink announcing in June that he would no ‌longer use the⁣ term. Additionally, ⁢the S&P​ Global‍ has removed the ESG scale from its debt‌ ratings.

Click here to read more from the Washington Examiner.